(1) Includes
shares of common stock issuable pursuant to the common stock purchase warrants,
which will become exercisable on April 29, 2009.
(2) Assumes
that the stockholders dispose of all the shares of common stock covered by this
prospectus and do not acquire or dispose of any additional shares of common
stock. The selling stockholders are not representing, however, that any of the
shares covered by this prospectus will be offered for sale, and the selling
stockholders reserve the right to accept or reject, in whole or in part, any
proposed sale of shares.
(3) The
percentage of common stock beneficially owned is based on 24,930,943 shares of
common stock outstanding on November 21, 2008, and with respect to each
stockholder, assumes the exercise of any warrants and options owned by such
stockholder, but not the exercise of any other outstanding options or warrants.
(4) Mr. Dewey has served as one of our directors since our inception in
November 2004. Consists of 883,411 shares held by Mr. Dewey directly, which
includes 117,634 shares that Mr. Dewey has the right to acquire through the
exercise of warrants, together with 1,409,900 shares held by Z-KAT, Inc., of
which he is deemed to be the indirect beneficial owner. The board
of directors of Z-KAT, Inc. is comprised of John Whitman, Mike Fong, Ellen
Shih, Fernando Tapia, Mark Sinnreich and Mr. Dewey. Mr. Dewey is also
acting Chief Executive Officer of Z-KAT, Inc. Mr. Dewey and the other
members of Z-KATs board of directors may be deemed to share voting and
investment power over the shares held by this entity. Each of these individuals
disclaims beneficial ownership of such shares, except to the extent of his or
her pecuniary interest.
(5) Dr. Moll has served as one our directors since August 2007.
Includes 19,344 shares that Dr. Moll has the right to acquire through the
exercise of warrants.
(6) Dr. Ferré is our founding President, Chief
Executive Officer and current Chairman
of our board of directors. Consists of 741,075 shares of restricted
common stock (of which 301,259 shares were unvested) issued to
Dr. Ferré in connection with his employment, 17,065 shares of unrestricted
common stock purchased by Dr. Ferré, 49,504 shares of restricted common
stock held by MMF Holdings, LLC, an entity owned by Dr. Ferrés parents, 48,141
shares that Dr. Ferré has the right to acquire through the exercise of vested
options and 5,631 shares that Dr. Ferré has the right to acquire
through the exercise of warrants. Of his 439,816 vested shares of restricted
common stock, Dr. Ferré has pledged 125,000 shares to a third party lender as
collateral to secure any amounts that may become outstanding under a personal
loan.
(7) Gerald A.
Brunk, who has served as one of our directors since October 2006, is Senior
Vice President/Managing Director of Lumira Capital Corp. The general
partner of Lumira Capital I Limited Partnership (LC I) is Lumira Capital I
(GP) Inc. The general partner of Lumira Capital I Quebec Limited
Partnership (LCIQ) is Lumira Capital I (QGP) Inc. The general partner of
MLII Co-Investment Fund NC Limited Partnership (MLII.NC) MLII (NCGP) Inc.
Lumira Capital Management Corp. (Lumira Management), a subsidiary of
Lumira Capital Corp., may be deemed to share voting and investment power
over the shares held by LC I pursuant to a management agreement with LC I.
Lumira Management also provides services to each of LCIQ and MLII.NC.
The directors of Lumira Capital Corp. are Michael Burns, Kenneth Horton,
James Oborne and Peter van der Velden. The directors
of Lumira Management, Lumira Capital I (GP) Inc., and MLII
(NCGP) Inc. are Stephen Cummings and Peter van der Velden. The directors
of Lumira Capital I (QGP) Inc. are Bernard Coupal, Murray Ducharme,
Maurice Forget, Jean Page and Peter van der Velden. Lumira Capital I (GP)
Inc., Lumira Capital I (QGP) Inc., MLII (NCGP) Inc. and each of the
individuals may be deemed to share voting and investment power over these
shares. Lumira Capital I (GP) Inc., Lumira Capital I (QGP) Inc., MLII (NCGP)
Inc., Lumira Management, Lumira Capital Corp., Mr. Brunk
and each of the other individuals disclaim beneficial ownership of such shares,
except to the extent of its, his or her pecuniary interest.
36
(8) Marcelo G. Chao, who has served as one of our
directors since February 2007, is a Managing Director of The Exxel Group, and
affiliate of MK Investment Company (MK Investment). The directors of MK
Investment are Mirta Carballal, Diego Muñoz, and Alfredo Arocena. Mr. Chao
and the directors of MK Investment may be deemed to share voting and investment
power over the shares held by this entity. Each of these individuals disclaims
beneficial ownership of such shares, except to the extent of his or her
pecuniary interest.
(9) S. Morry Blumenfeld, Ph.D., who has served as one of
our directors since July 2005, is the founder of MediTech Advisors LLC and
Meditech Advisors Management LLC, a member of Ziegler MediTech Partners LLC,
which is the sole general partner of Ziegler MediTech Equity Partners LP. The
partners of MediTech Advisors LLC are Eitan Machover, Samuel Cubac, Grosvenor
LLC and Allandale Ltd. The members of Grosvenor LLC are Dr. Blumenfeld and
certain of his family members. The general partner of Ziegler MediTech Equity
Partners LP is Ziegler MediTech Partners, LLC. The board of managers of Ziegler
MediTech Partners LLC consists of Dr. Blumenfeld, Eitan Machover, Sam
Cubac, S. Charles OMeara, Donald I. Grande and Thomas S. Ross. The partners of
MediTech Advisors LLC and Dr. Blumenfeld and the other directors of
Ziegler MediTech Partners LLC may be deemed to share voting and investment
power over the shares held by MediTech Advisors LLC and Ziegler MediTech Equity
Partners LP. Each of these individuals disclaims beneficial ownership of such
shares, except to the extent of his or her pecuniary interest.
(10) Does not
include 812,377 shares of common stock held by Aperture Capital II, L.P. Aperture
Venture Partners LLC is the general partner of Aperture Capital II, L.P. and
Aperture Capital III, L.P. Paul E. Tierney, Jr., Thomas P. Cooper, Eric H.
Sillman and Matthew S. Tierney are the members of Aperture Venture Partners
LLC, and may be deemed to share voting and investment power over the shares
held by each of Aperture Capital II, L.P. and Aperture Capital III, L.P. Each
of these individuals disclaims beneficial ownership of such shares, except to
the extent of his pecuniary interest.
(11) Alta Partners Management VIII, LLC (APM
VIII), the general partner of Alta Partners VIII, L.P. (AP VIII), and Daniel
Janney, Guy Nohra and Farah Champsi, the managing directors of APM VIII, may be
deemed to share voting and investment power over the shares held by AP VIII.
APM VIII and each of its managing directors disclaim beneficial ownership of
the shares, except to the extent of its, his or her pecuniary interest.
(12) John
Savarese, M.D., who has served as one of our directors since October 2008, Daniel
K. Turner III, Howard D. Palefsky and Manish Chapekar are the managers of
Montreux Equity Management IV, LLC (MEM IV), the sole general partner of each
of Montreux Equity Partners IV, L.P. and Montreux IV Associates IV, L.L.C. and
may be deemed to share voting and investment power over the shares held by each
of Montreux Equity Partners IV, L.P. and Montreux IV Associates, L.L.C. Each of
these individuals disclaims beneficial ownership of such shares, except to the
extent of his pecuniary interest.
(13) John
Freund, M.D., who has served as one of our directors since October 2008, is a
Managing Director of Skyline Venture Management V, LLC, the general partner of
Skyline Venture Partners V, L.P., and may be deemed to share voting and
investment power over the shares held by Skyline Venture Partners V, L.P. Dr.
Freund disclaims beneficial ownership of such shares, except to the extent of
his pecuniary interest.
37
PLAN OF
DISTRIBUTION
The
selling stockholders may, from time to time, sell any or all of their shares of
common stock on any stock exchange, market or trading facility on which the
shares are traded or in private transactions. These sales may be at fixed or
negotiated prices. The selling stockholders may use any one or more of the following
methods when selling shares:
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ordinary
brokerage transactions and transactions in which the broker-dealer solicits
purchasers;
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block trades
in which the broker-dealer will attempt to sell the shares as agent but may
position and resell a portion of the block as principal to facilitate the
transaction;
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purchases by
a broker-dealer as principal and resale by the broker-dealer for its account;
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an exchange
distribution in accordance with the rules of the applicable exchange;
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privately
negotiated transactions;
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short sales;
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broker-dealers
may agree with the selling stockholders to sell a specified number of such
shares at a stipulated price per share;
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a
combination of any such methods of sale; and
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any other
method permitted pursuant to applicable law.
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The
selling stockholders may also sell shares under Rule 144 under the Securities
Act of 1933, as amended, or the Securities Act, if available, rather than under
this prospectus.
Broker-dealers
engaged by the selling stockholders may arrange for other brokers-dealers to
participate in sales. Broker-dealers may receive commissions or discounts from
the selling stockholders (or, if any broker-dealer acts as agent for the
purchaser of shares, from the purchaser) in amounts to be negotiated. The
selling stockholders do not expect these commissions and discounts to exceed
what is customary in the types of transactions involved. Any profits on the
resale of shares of common stock by a broker-dealer acting as principal might
be deemed to be underwriting discounts or commissions under the Securities Act.
Discounts, concessions, commissions and similar selling expenses, if any,
attributable to the sale of shares will be borne by a selling stockholder. The
selling stockholders may agree to indemnify any agent, dealer or broker-dealer
that participates in transactions involving sales of the shares if liabilities
are imposed on that person under the Securities Act.
The
selling stockholders may from time to time pledge or grant a security interest
in some or all of the shares of common stock owned by them and, if they default
in the performance of their secured obligations, the pledgees or secured
parties may offer and sell the shares of common stock from time to time under
this prospectus after we have filed a post-effective amendment or supplement to
this prospectus under the Securities Act supplementing or amending the list of
selling stockholders to include the pledgee, transferee or other successors in
interest as selling stockholders under this prospectus.
The
selling stockholders also may transfer the shares of common stock in other
circumstances, in which case the transferees, pledgees or other successors in
interest will be the selling beneficial owners for purposes of this prospectus
and may sell the shares of common stock from time to time under this prospectus
after we have filed a post-effective amendment or supplement to this prospectus
under the Securities Act supplementing or amending the list of selling
stockholders to include the pledgee, transferee or other successors in interest
as selling stockholders under this prospectus.
38
The
selling stockholders and any broker-dealers or agents that are involved in selling
the shares of common stock may be deemed to be underwriters within the
meaning of the Securities Act in connection with such sales. In such event, any
commissions received by such broker-dealers or agents and any profit on the
resale of the shares of common stock purchased by them may be deemed to be
underwriting commissions or discounts under the Securities Act.
We
are required to pay all fees and expenses incident to the registration of the
shares of common stock. We have agreed to indemnify the selling stockholders
against certain losses, claims, damages and liabilities, including liabilities
under the Securities Act.
The
selling stockholders have advised us that they have not entered into any
agreements, understandings or arrangements with any underwriters or
broker-dealers regarding the sale of their shares of common stock, nor is there
an underwriter or coordinating broker acting in connection with a proposed sale
of shares of common stock by any selling stockholder. If we are notified by any
selling stockholder that any material arrangement has been entered into with a
broker-dealer for the sale of shares of common stock, if required, we will file
a supplement to this prospectus. If the selling stockholders use this prospectus
for any sale of the shares of common stock, they will be subject to the
prospectus delivery requirements of the Securities Act.
The
anti-manipulation rules of Regulation M under the Securities Exchange Act of
1934 may apply to sales of our common stock and activities of the selling
stockholders.
39
DESCRIPTION OF
CAPITAL STOCK
Our
authorized capital stock consists of 135,000,000 shares of common stock, par
value $0.001 per share, and 27,000,000 shares of preferred stock, par value $0.001
per share.
The
following is a summary of the rights of our common stock and preferred stock.
This summary is not complete and is qualified in its entirety by reference to
applicable Delaware law, our third amended and restated certificate of
incorporation and our fourth amended and restated bylaws. See Where You Can
Find More Information.
Common Stock
Outstanding
Shares and Voting Rights
. As of November 21, 2008,
24,930,943 shares of our common stock were outstanding. Each holder of common
stock is entitled to one vote for each share of common stock held on all
matters submitted to a vote of the stockholders, including the election of
directors. Our third amended and restated certificate of incorporation and
fourth amended and restated bylaws do not provide for cumulative voting rights.
Because of this, the holders of a majority of the shares of common stock
entitled to vote in any election of directors can elect all of the directors
standing for election, if they should so choose.
Dividends
.
Subject to preferences that may be applicable to any then outstanding preferred
stock, the holders of our outstanding shares of common stock are entitled to
receive dividends, if any, as may be declared from time to time by our board of
directors out of legally available funds.
Liquidation
.
In the event of our liquidation, dissolution or winding up, holders of common
stock will be entitled to share ratably in the net assets legally available for
distribution to stockholders after the payment of all of our debts and other
liabilities, subject to the satisfaction of any liquidation preference granted
to the holders of any outstanding shares of preferred stock.
Rights
and Preferences
. Holders of our common stock have no
preemptive, conversion or subscription rights, and there are no redemption or
sinking fund provisions applicable to our common stock. The rights, preferences
and privileges of the holders of common stock are subject to, and may be
adversely affected by, the rights of the holders of shares of any series of our
preferred stock that we may designate and issue in the future.
Fully
Paid and Nonassessable
. All of our outstanding shares
of common stock are fully paid and nonassessable.
Preferred Stock
Under
the third amended and restated certificate of incorporation, our board of
directors has the authority, without further action by the stockholders, to
issue up to 27,000,000 shares of preferred stock in one or more series, to
establish from time to time the number of shares to be included in each such
series, to fix the rights, preferences and privileges of the shares of each
wholly unissued series and any qualifications, limitations or restrictions
thereon, and to increase or decrease the number of shares of any such series,
but not below the number of shares of such series then outstanding.
Our
board of directors may authorize the issuance of preferred stock with voting or
conversion rights that could adversely affect the voting power or other rights
of the holders of the common stock. The issuance of preferred stock, while
providing flexibility in connection with possible acquisitions and other
corporate purposes, could, among other things, have the effect of delaying,
deferring or preventing a change in our control and may adversely affect the
market price of the common stock and the voting and other rights of the holders
of common stock. We have no current plans to issue any shares of preferred
stock.
40
Warrants
As
of November 21, 2008, warrants exercisable for a total of 2,075,620 shares of
our common stock were outstanding. Of these, warrants to purchase 190,457
shares of our common stock were issued to Z-KAT in exchange for the license of
intellectual property and transfer of other assets. Pursuant to an exchange
agreement between us, Z-KAT and certain creditors of Z-KAT, Z-KAT transferred
the warrants for our common stock and a certain portion of the transferred
Series A convertible preferred stock to the creditors in exchange for such
creditors cancellation of outstanding debt.
Warrants
to purchase 272,259 shares of our common stock were purchased by purchasers of
our Series A convertible preferred stock for cash consideration of $0.03 per
share. These warrants are immediately exercisable at an exercise price of $3.00
per share and will expire ten years after the date of issuance. These warrants
have a net exercise provision under which the holder may, in lieu of payment of
the exercise price in cash, surrender the warrant and receive a net amount of
shares of common stock based on the fair market value of our common stock at
the time of exercise of the warrant after deduction of the aggregate exercise
price. These warrants also contain provisions for the adjustment of exercise
price and the aggregate number of shares issuable upon the exercise of the
warrants in the event of stock dividends, stock splits or stock combinations,
recapitalizations, reorganizations or reclassifications.
Warrants
to acquire 1,290,323 shares of our common stock, at an exercise price of $7.44
per share, were purchased by certain accredited investors in connection with
their purchase of shares of our common stock in October 2008 for cash
consideration of $0.125 per warrant. These warrants become exercisable on April
29, 2009, will be exercisable for cash or by net exercise and have a term of
seven years. Certain of the investors also received a second tranche of
warrants to purchase 322,581 shares of our common stock, at an exercise price
of $6.20 per share, that will become exercisable upon the earlier of our
exercise of a call right to require certain of the investors to purchase
additional warrants and shares of our common stock and the expiration of the
call right. In addition to the warrants purchased upon exercise of the call
right, these investors may receive an incremental number of additional warrants
with the same exercise price if certain conditions are met. The additional
warrants purchased and the incremental warrants will be immediately
exercisable, if they are issued. The warrants issued in October 2008 contain,
and the additional or incremental warrants will contain, provisions for the
adjustment of exercise price and the aggregate number of shares issuable upon
the exercise of the warrants in the event of stock dividends, stock splits or
stock combinations, recapitalizations, reorganizations or reclassifications.
Delaware
Anti-Takeover Law and Provisions of our Third Amended and Restated Certificate
of Incorporation and Fourth Amended and Restated Bylaws
Delaware
Anti-Takeover Law
. We are subject to Section 203 of
the Delaware General Corporation Law. Section 203 generally prohibits a public
Delaware corporation from engaging in a business combination with an
interested stockholder for a period of three years after the date of the
transaction in which the person became an interested stockholder, unless:
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prior to the
date of the transaction, the board of directors of the corporation approved either
the business combination or the transaction which resulted in the stockholder
becoming an interested stockholder;
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the
interested stockholder owned at least 85% of the voting stock of the
corporation outstanding at the time the transaction commenced, excluding for
purposes of determining the number of shares outstanding (a) shares owned by
persons who are directors and also officers and (b) shares owned by employee
stock plans in which employee participants do not have the right to determine
confidentially whether shares held subject to the plan will be tendered in a
tender or exchange offer; or
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on or
subsequent to the date of the transaction, the business combination is
approved by the board and authorized at an annual or special meeting of
stockholders, and not by written consent, by the affirmative
vote of at least 66 2/3% of the outstanding voting stock which is not owned
by the interested stockholder.
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Section
203 generally defines a business combination to include:
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any merger
or consolidation involving the corporation and the interested stockholder;
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any sale,
transfer, pledge or other disposition involving the interested stockholder of
10% or more of either the assets of the corporation or the aggregate market
value of all the outstanding stock of the corporation;
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subject to
exceptions, any transaction that results in the issuance or transfer by the
corporation of any stock of the corporation to the interested stockholder;
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subject to
exceptions, any transaction involving the corporation with the effect of
increasing the proportionate share of stock of the corporation; or
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the receipt
by the interested stockholder of the benefit of any loans, advances,
guarantees, pledges or other financial benefits provided by or through the
corporation.
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In
general, Section 203 defines an interested stockholder as any entity or person
beneficially owning 15% or more of the outstanding voting stock of the
corporation and any entity or person affiliated with or controlling or
controlled by the entity or person.
Third
Amended and Restated Certificate of Incorporation and Fourth Amended and
Restated Bylaws
. Provisions of our third amended and
restated certificate of incorporation and fourth amended and restated bylaws,
which will become effective upon the completion of this offering, may delay or
discourage transactions involving an actual or potential change in our control
or change in our management, including transactions in which stockholders might
otherwise receive a premium for their shares, or transactions that our
stockholders might otherwise deem to be in their best interests. Therefore,
these provisions could adversely affect the price of our common stock. Among other
things, our third amended and restated certificate of incorporation and fourth
amended and restated bylaws:
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permit our
board of directors to issue up to 27,000,000 shares of preferred stock, with
any rights, preferences and privileges as they may designate, including the
right to approve an acquisition or other change in our control;
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provide that
the authorized number of directors may be changed only by resolution of the
board of directors;
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provide that
all vacancies, including newly created directorships, may, except as
otherwise required by law, be filled by the affirmative vote of a majority of
directors then in office, even if less than a quorum;
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divide our
board of directors into three classes;
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require that
any action to be taken by our stockholders must be effected at a duly called
annual or special meeting of stockholders and not be taken by written
consent;
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provide that
stockholders seeking to present proposals before a meeting of stockholders or
to nominate candidates for election as directors at a meeting of stockholders
must provide notice in writing in a timely manner, and also specify
requirements as to the form and content of a stockholders notice;
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do not
provide for cumulative voting rights (therefore allowing the holders of a
majority of the shares of common stock entitled to vote in any election of
directors to elect all of the directors standing for election, if they should
so choose);
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provide that
special meetings of our stockholders may be called only by the board of
directors pursuant to a resolution adopted by a majority of the board of
directors; and
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provide that
stockholders will be permitted to amend our amended and restated bylaws only
upon receiving at least 66 2/3% of the votes entitled to be cast by holders
of all outstanding shares then entitled to vote generally in the election of
directors, voting together as a single class.
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Except
as otherwise provided, the amendment of any of these provisions would require
approval by the holders of at least a majority of our then outstanding common
stock, voting as a single class.
Nasdaq Global Market
Listing
Our
common stock is listed on The NASDAQ Global Market under the symbol MAKO.
Transfer Agent and
Registrar
The
transfer agent and registrar for our common stock is BNY Mellon Shareowner
Services. The transfer agent and registrars address is 480 Washington Blvd.,
Jersey City, New Jersey, 07310.
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LEGAL MATTERS
Foley
& Lardner LLP will pass upon the validity of the common stock being offered
by this prospectus.
EXPERTS
The
financial statements of MAKO Surgical Corp. appearing in MAKO Surgical Corp.s
Annual Report (Form 10-K) for the year ended December 31, 2007, have been
audited by Ernst & Young LLP, independent registered public accounting
firm, as set forth in their report thereon, included therein, and incorporated
herein by reference. Such financial statements are incorporated herein by
reference in reliance upon such report given on the authority of such firm as
experts in accounting and auditing.
WHERE YOU CAN
FIND MORE INFORMATION
We
file annual, quarterly and current reports, proxy statements and other
information with the SEC. We have also filed a registration statement on Form
S-1, including exhibits, under the Securities Act with respect to the shares of
common stock offered by this prospectus. This prospectus is a part of the
registration statement, but does not contain all of the information included in
the registration statement or the exhibits. Some items are omitted in
accordance with the rules and regulations of the SEC. You may read and copy the
registration statement and any other document that we file at the SECs public
reference room at 100 F Street, N.E., Washington DC, 20549. You can call the
SEC at 1-800-SEC-0330 for further information on the operation of the public
reference room. You can also find our public filings with the SEC on the
internet at a web site maintained by the SEC located at http://www.sec.gov.
We
are incorporating by reference specified documents that we file with the SEC,
which means:
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incorporated
documents are considered part of this prospectus; and
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we are
disclosing important information to you by referring you to those documents.
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We
incorporate by reference the documents listed below:
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our Annual
Report on Form 10-K for the year ended December 31, 2007;
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our
Definitive Proxy Statement on Schedule 14A filed with the SEC on April 29,
2008;
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our
Quarterly Reports on Form 10-Q for the quarters ended March 31, 2008; June
30, 2008; and September 30, 2008; and
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our Current
Reports on Form 8-K filed February 26, 2008; March 17, 2008; April 29, 2008
(with respect to Items 5.02 and 9.01 thereto, but not with respect to Item
2.02 or Exhibit 99.1 thereto); July 25, 2008; and October 30, 2008.
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We
will provide to each person to whom a prospectus is delivered a copy of any of
these filings, at no cost, upon written or oral request directed to us at the
following address or telephone number:
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Investor
Relations
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MAKO
Surgical Corp.
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2555 Davie
Road
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Ft.
Lauderdale, FL 33317
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(954)
927-2044
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investorrelations@makosurgical.com
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You can also find these filings
on our website at www.makosurgical.com. However, we are not incorporating the
information on our website other than these filings into this prospectus.
44
12,980,951
Shares of Common Stock
MAKO
Surgical Corp.
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Prospectus
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December 9, 2008
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Mako Surgical Corp. (MM) (NASDAQ:MAKO)
과거 데이터 주식 차트
부터 9월(9) 2024 으로 10월(10) 2024
Mako Surgical Corp. (MM) (NASDAQ:MAKO)
과거 데이터 주식 차트
부터 10월(10) 2023 으로 10월(10) 2024